31 May
Member News

Risk in Review: Going the Distance

Risk resiliency + risk agility = enduring success in PwC's 2016 Risk in review study. We live in turbulent times. Companies across industries have faced an unprecedented confluence of risks. It's no wonder that in PwC’s 19th Annual Global CEO study, 66% of CEOs saw more threats to their business than opportunities. To remain competitive, companies must pursue two parallel strategies: 1. Building agile and flexible risk management frameworks that can anticipate and prepare for the shifts that bring long-term success and 2. Building the resiliency that will enable those frameworks...

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31 May
Member News

Intangible Assets & Property Taxes

Property consists of two basic types - tangible and intangible. Intangible property is exempt in some US states, while almost all tangible property is taxable. Some states exempt all intangibles, while others exempt only certain parts of intangible property. In either case, the tax savings can be substantial. If you do business in a state that exempts intangibles, that value can reduce your tax burden. It is well worth the time to find out what is and what isn’t taxable...

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27 May
Member News

Tax Alert – Still no unanimous agreement on the EU Anti Tax Avoidance Directive

The EU Economic and Financial Affairs Council (“Ecofin”) was expected to adopt the so-called EU Anti Tax Avoidance Directive (the “ATAD”) during its meeting held on 25 May 2016.  However, due to disagreements among the delegations of the EU Member States on certain measures included in the proposed ATAD, the aim of the meeting was no longer to adopt it, but to resolve the remaining political issues regarding the measures included therein and to agree on a general approach...

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27 May
Chapter News

New Crop of Companies Reaping Profits From Wasted Food

Several start-ups are chasing ways to use food waste to make other edibles. Some are aiming to quickly distribute food that is about to be thrown out. And yet others are working to use every last ounce of ingredients. Food waste, in other words, is now a platform for commerce. “I’m convinced there’s a business that’s a kind of Uber for refrigerated trucks,” said Jesse Fink, a founder of the travel site Priceline who now calls himself a food waste evangelist. The...

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27 May
Chapter News

Energy prices in the EU in 2015 – Household electricity prices rose by 2.4%… … while household gas prices fell by 1.7%

In the European Union (EU), household electricity prices rose by 2.4% on average between the second half of 2014 and the second half of 2015 to reach €21.1 per 100 kWh. Since 2008, electricity prices in the EU have risen by 33%. Across the EU Member States, household electricity prices in the second half of 2015 ranged from below €10 per 100 kWh in Bulgaria to more than €30 per 100 kWh in Denmark. Full text available on EUROSTAT website Compliments...

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26 May
Chapter News

Speech by Vice-President for Energy Union Maroš Šefčovič at the Energy Fest (Start Up Event) in Amsterdam

Amsterdam, 26 May 2016 Ladies and gentlemen, Let me start by thanking you for inviting me to this first edition of the Energy Fest, hopefully the first of a long series. One of the most brilliant European minds of all times, Lenardo Da Vinci once said that "people of accomplishment rarely sat back and let things happen to them. They went out and happened to things". By 'happening to things', Da Vinci meant questioning axioms, challenging the common wisdom, and above all daring...

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26 May
Chapter News

EU-US “Privacy Shield” for data transfers: further improvements needed, MEPs say

The EU Commission should go on negotiating with the USA to remedy “deficiencies” in proposed “Privacy Shield” protection for EU citizens’ data transferred to the US for commercial purposes, Parliament says in a non-legislative resolution passed on Thursday. In the resolution, passed by 501 votes to 119 with 31 abstentions, MEPs welcome the efforts of the Commission and the US administration to achieve "substantial improvements" in the Privacy Shield compared to the Safe Harbour decision which it is to replace. However,...

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26 May
Chapter News

President Jean-Claude Juncker’s remarks at the joint press briefing with European Council President Tusk ahead of the G7 Summit

Brussels, 26 May 2016 Ladies and Gentlemen, I can be very brief because Donald was covering the whole landscape in Europe and in the rest of the world. I would like to comment briefly on the general economic situation. The EU's recovery continues despite a more difficult global environment. In 2015, the European growth reached 2%, in the euro area 1.7%. These figures are confirming that the recovery is on solid ground and well on track. The GDP level of the...

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26 May
Chapter News

Boost consumer power in the energy market, urge MEPs

Consumers should be given more power in the energy market, say MEPs in a resolution on a "new energy deal for energy consumers", voted on Thursday. They recommend collective buying, household power generation, better price comparison tools for all and making it easier to switch energy providers and tariffs. In a non-binding text, intended as an input to Energy Union legislation to be tabled by the EU Commission, MEPs also call for EU funds for energy efficiency to focus...

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26 May
Member News

CBP Proposes Ruling Revocation on Reusable Plastic Hangers

On May 18, 2016, U.S. Customs and Border Protection (CBP) published a proposed ruling revocation related to the tariff classification of certain plastic garment hangers imported with garments. Generally, plastic garment hangers, when imported separately from garments, are classifiable under subheading 3923.90.00, HTSUS, dutiable at 3% ad valorem.  For several years, CBP has held that plastic hangers imported with garments are separately classifiable under subheading 3923.90.00, so long as the hangers are clearly suitable for repetitive use.  This allows importers...

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